Bitcoin Today (21.12.2018)

Bitcoin did not find enough support on the $ 4000 to continue the uptrend but still managed to hold on to the level, keeping itself above the last peak of $ 3900.

Such behavior does not violate an upward overview and looks like a small correction before the uptrend continuation. The $ 4400 zone is called the next strong resistance for the upward scenario (the middle of pointed yesterday main levels $ 4300 and $ 4500). From the below we have $ 3900 level, which supports the bullish scenario and $ 3500 – $ 3700 zone below it, crossing of which will bring back the bears.

Today forecast

Trading
Bounds: $ 3900 – $ 4400.

Latest

🔹 Token Taxonomy Act

On December 20, Republican Warren Davidson,
a congressman from Ohio, and Democrat Darren Soto of Florida presented to the
Congress the Token Taxonomy Act. If the bill will gain power, then
cryptocurrencies will cease to be a phenomenon that the SEC has the right to
regulate.

This means that digital currencies will be
freed from the dictates of the Commission, with its archaic views on the nature
of the “security”. The definition of “security”, which operates the
SEC, formed more than seventy years ago. According to CNBC, the new law, which,
remarkably, was developed by representatives of America’s two main competing
political camps, contains the definition of “digital securities”. This is
extremely important since so far virtual currencies do not have an unequivocal
legal status.

CNBC quotes Congressman Davidson, who
recently proposed to the United States the help of an ICO to finance the
construction of a wall on the border with Mexico, which said:

“At the dawn of the Internet, Congress
passed laws that provided clarity and prevented the temptation to “regulate”
the market. We intend to achieve a similar victory for the American economy and
guarantee the leadership of the United States in this innovative sphere.”

If the bill is approved, the cryptocurrency
community will sigh with relief. Although one SEC official suggested that
bitcoin and ethereum are not securities, their status, as well as the status of
other cryptocurrencies – XRP, etc. – is still uncertain, not to mention the
hazy future of possible Bitcoin ETFs.

The congressman took a step forward,
compared with his colleagues, trying not only to define Bitcoin but also to
show what a digital asset is not.

Employees of the Davidson team told
reporters that the text of the bill is not yet available, and soon
representatives of the congressman will make an official statement.

Davidson has a reputation as a “friend of
cryptocurrency”, advocating a “soft” approach to blockchain regulation. He
seeks to prevent technological espionage from China and other countries, and
not allow American technology to “leak” from the country, and also
intends to protect Americans from fraudulent ICO projects.